How and Why to Buy a Car for Cash: Interview with James Kinson from the Cash Car Convert Podcast

.. I had the opportunity to connect with James Kinson, host of the Cash Car Convert podcast.

James has a fun story to share and some great lessons to teach. He’s a long-time car guy who got the debt-free religion and changed his car-buying habits. To his delight, he’s wound up a good deal richer than ever before!

He’s got some great lessons to share and in this show we discuss:

  • The impact a cash car can have on your wealth
  • Leasing vs. buying
  • Whether the advice to buy a good used car still applies in the modern day of higher repair bills.

Rare look at Trump bookkeeping: ‘Extraordinary flim-flammery’

Trump was basically running two sets of books to distort the amount that he owed the city.
  • The auditors were physically blocked from accessing the books.
  • A staggering amount of information was lost: 7 months out of 12 months of the data
  • Trump offered the auditor’s brother a job.
  • A city clerk mis-labeled the report
  • Years later they reached an undisclosed settlement.

Aug. 9, 2007: The Day the Mortgage Crisis Went Global

A look at the problems exposed by the events that day and what investors, bankers have learned since then

By now it is widely understood that

  • the global financial industry was overleveraged, that the U.S. mortgage market was rife with loans that wouldn’t be repaid, that investors and
  • financial institutions everywhere were paying high prices for highly rated securities that were actually extremely risky.
 .. But at the time that larger meaning wasn’t evident, even to financial industry executives and the central bankers charged with overseeing them. The economy was growing at a near-4% clip and stocks were hitting new highs. Many still believed the mortgage problems would blow over.
In the minds of many at the time, what Wall Street began grappling with on Aug. 9 was a liquidity outage in the trading of risky securities, one that might be solved with repeated infusions of central-bank money.
.. On Aug. 9, for instance, a spike in short-term interest rates such as Libor prompted central bankers to spring into action, pouring funds into the market and promising further support. Those efforts were successful—but they didn’t create incentives for capital raising and deleveraging, which is what the markets needed most desperately.